90. You just deposited $5,000 in a bank account that pays a 4.0% nominal interest rate, compounded quarterly. If you also add another $5,000 to the account one year (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now, how much will be in the account three years (12 quarters) from now?

Group of answer choices

$18,852.94

$23,189.11

$17,910.29

$18,475.88

$20,361.17

88. Your subscription to Investing Wisely Weekly is about to expire. You plan to subscribe to the magazine for the rest of your life, and you can renew it by paying $85 annually, beginning immediately, or you can get a lifetime subscription for $810, also payable immediately. Assuming that you can earn 6.0% on your funds and that the annual renewal rate will remain constant, how many years must you live to make the lifetime subscription the better buy?

Group of answer choices

16 years

12 years

14 years

11 years

13 years

87. Your child's orthodontist offers you two alternative payment plans. The first plan requires a $3,000 immediate up-front payment. The second plan requires you to make monthly payments of $137.41, payable at the end of each month for 3 years. What nominal annual interest rate is built into the monthly payment plan?

Group of answer choices

43.56%

37.80%

36.00%

30.60%

28.08%

86. You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest $3,000 at the end of each month, how many months will it take for your account to grow to $165,000?

Group of answer choices

38 months

49 months

40 months

48 months

52 months

85. You are considering an investment in a Third World bank account that pays a nominal annual rate of 18%, compounded monthly. If you invest $5,000 at the beginning of each month, how many months would it take for your account to grow to $470,000? Round fractional months up.

Group of answer choices

60

59

68

53

57